Batoclimab TED Phase 3 misses endpoint; Roivant starts brepocitinib LPP trial; $4.3B cash

Roivant Sciences Ltd.

Preliminary cash, cash equivalents and marketable securities as of Mar 31, 2026: ~$4.3B.
Repurchased 3,956,362 common shares for ~$109.7M in Q4 fiscal 2026.
Immunovant's two Phase 3 studies of batoclimab in TED failed to meet primary endpoint of ≥2mm proptosis responder rate at Week 24.
Priovant began Phase 2b/3 trial of brepocitinib in lichen planopilaris; first subjects enrolled Mar 2026.
Brepocitinib NDA for dermatomyositis granted Priority Review; PDUFA target in Q3 calendar 2026.

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